Uptown High-rise

McKinney & Olive high-rise brings bold curves to Uptown landscape

Hey baby, check out those curves.

Photo by Craig D. Blackmon

Two years after breaking ground, Crescent Real Estate celebrated the grand opening of McKinney & Olive, the 20-story structure offering office and retail space in Uptown Dallas.

Crescent Real Estate chairman and CEO John Goff says that the company has heavily invested in the Uptown area to make Dallas a better place. The opening of McKinney & Olive deepens Crescent's investment and visibility in Uptown, expanding its presence to four major properties spanning approximately 20 contiguous acres.

Those include The Crescent, the mixed-use complex built in 1986 that serves as an anchor and continues its reign as the financial center of the Southwest. The company recently completed a $33 million renovation.

There's also the Ritz-Carlton, Dallas and the Residences at the Ritz-Carlton, which Crescent opened in 2007. And in July 2016, Crescent and its affiliates purchased Hotel Crescent Court.

McKinney & Olive is located at 2021 McKinney Ave., on a 3.1-acre site across the street from the Ritz-Carlton. It was designed by architectural firm Pelli Clarke Pelli, whose founder Cesar Pelli dubbed it a "sexy" building, which you might expect since his firm designed it. The building has bold curves, retail space, and a piazza for gatherings.

Building highlights include the two-and-one-half-story grand lobby filled with crystal-clear glass and dramatic Carrara marble extracted from the legendary Italian quarries that Michelangelo once surveyed and prospected. The office floors feature 10-foot ceilings and highly efficient and flexible floor plates.

The corners of the building have been specially designed without supporting columns so that the floor-to-ceiling glass walls offer unobstructed city views up and down McKinney Avenue, over to the Arts District and Klyde Warren Park downtown, and as far as Victory Park.

A customer-only Concierge Floor features a sunlit conference center and a fitness studio designed and equipped by Canyon Ranch. The studio also overlooks a landscaped rooftop terrace.

The one-acre piazza was created by landscape architecture firm the Office of James Burnett, which also designed Klyde Warren Park. It includes green spaces, water features, a fire pit, seating, and two valet parking options for office and retail visitors.

The retail component includes Del Frisco's Double Eagle Steakhouse, which is already open. More restaurants are coming in 2017, including the Texas debut of two concepts: Doc B’s Fresh Kitchen, a Chicago-based fast-casual concept with food, craft beer, wine, and spirits; and Roti Modern Mediterranean, a fast-casual concept with wraps, rice plates, and salads.

McKinney & Olive is nearly 93 percent leased. Tenants already signed on include law firms Gardere Wynne Sewell LLP and Sidley Austin LLP; real estate giants Cushman & Wakefield and Prologis Industrial REIT; and ad agencies Saatchi & Saatchi and Team One, whose clients include Toyota and Lexus.

Pelli Clarke Pelli has produced international recognizable structures such as World Financial Center in New York, the Petronas Towers in Malaysia, and the International Finance Centre in Hong Kong.

openings uptown

rent report

2 Dallas suburbs have the highest rents in DFW right now, report finds

Photo courtesy of Simpson Property Group

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After American shoppers spent $11.5 billion on Black Friday this year, it's safe to say many people are watching their wallets this holiday season, including renters. And a new report is shedding light on the North Texas cities that are shelling out the most for their rent.

Zumper's newest monthly rent report, released December 2, analyzed active listings from the previous month across all cities in the Dallas-Fort Worth Metroplex. It tracked the most and least expensive rent prices for one- and two-bedroom apartments, and determines the cities with the fastest growing rents. Listings were aggregated by city to calculate median asking rents.

Frisco and The Colony tied for having the highest rent prices in Dallas-Fort Worth in November. According to the study's findings, the median rent price for a single-bedroom apartment came out to $1,620 last month in both cities. In Frisco, that's $10 lower than what it cost for the same apartment in June.

Frisco residents are expected to budget $3,491 for their holiday presents this year, WalletHub says, which means they might be watching their spending a lot more than other North Texas residents.

For two-bedroom units, median rent prices in Frisco rose 3.3 percent from October to $2,200. A two-bedroom apartment in The Colony rose 0.9 percent month-over-month to $2,130.

Grapevine's median rent prices were the third-priciest out of all cities in Dallas-Fort Worth. Zumper found that the median price for a one-bedroom apartment came out to $1,470, and two-bedroom units cost $1,840 in November.

Dallas tied with Plano for the fourth-highest rents in the metro area, the report said. Single-bedroom units cost the same amount between both cities ($1,470) while two-bedroom units were more expensive in Dallas ($2,060) than in Plano ($2,030).

For comparison, the price of one bedroom unit in Dallas was $30 cheaper in October, while two bedroom units cost $20 less than November's asking price. In September, asking rent for single-bedroom apartments added up to $1,480, while two bedroom units cost $2,100 per month.

These are the median rent prices for one- and two-bedroom apartments across Dallas-Fort Worth:

Richardson – $1,420 for one-bedroom units; $1,750 for two-bedroom units
McKinney – $1,400 for one-bedroom units; $1,850 for two-bedroom units
Carrollton – $1,360 for one-bedroom units; $1,730 for two-bedroom units
Lewisville – $1,300 for one-bedroom units; $1,700 for two-bedroom units
Burleson – $1,250 for one-bedroom units; $1,620 for two-bedroom units
Weatherford – $1,240 for one-bedroom units; $1,370 for two-bedroom units
Irving – $1,220 for one-bedroom units; $1,650 for two-bedroom units
Fort Worth – $1,190 for one-bedroom units; $1,450 for two-bedroom units
Grand Prairie – $1,170 for one-bedroom units; $1,560 for two-bedroom units
North Richland Hills – $1,160 for one-bedroom units; $1,460 for two-bedroom units
Haltom City – $1,150 for one-bedroom units; $1,430 for two-bedroom units

DFW cities with affordable rent compared to the statewide median
Zumper found the statewide median rent for a one bedroom apartment came out to $1,126 last month.

Cleburne had the most affordable rent for a one-bedroom unit in all of Dallas-Fort Worth, with median prices adding up to an even $1,000. The report also found that Cleburne's single-bedroom rent costs are 10.7 percent lower than they were a year ago. The median cost for a two-bedroom unit in Cleburne ($1,190) is 8.5 percent lower than it was in November 2024.

Six more Dallas-Fort Worth cities had more affordable single-bedroom rent prices than the statewide median: Bedford ($1,110), Mesquite ($1,110), Hurst ($1,100), Denton ($1,090), Arlington ($1,080), and Benbrook ($1,020).

dallas fort worth rent rent prices real estate housing report